Teach Me To Fish

maneverfix

Well-Known Member
#41
#43
I took 2 trades today.

Trade 1

Yes Bank had reversed multiple times from around the 328.50-mark, making it a key support zone. I shorted on a breach below this area at 328.20, with a stop loss above the last pivot high at 329.70. After moving in my direction for a short while, the stock hit my stop loss.

Trade 2

Since open, VEDL had found strong support around the 230-mark. I shorted on a break below that area at 229.70, with an initial stop loss above the last pivot high at 231.40. I booked 25% of my position at 228.70 and trailed the stop lower to 230.40. The stock reversed and hit my stop loss.

Interestingly, both stocks subsequently bounced higher.
 

Attachments

Last edited:

PUCHU_2500

Well-Known Member
#44
one of the best PA traders in our forum........too many so called pro traders should have to follow you......and should give some their feed backs.......yes I follow you regular basis.....and keep your nice work continuously........
 

bashasm

Well-Known Member
#45
I took 2 trades today.

Trade 1

Yes Bank had reversed multiple times from around the 328.50-mark, making it a key support zone. I shorted on a breach below this area at 328.20, with a stop loss above the last pivot high at 329.70. After moving in my direction for a short while, the stock hit my stop loss.

Trade 2

Since open, VEDL had found strong support around the 230-mark. I shorted on a break below that area at 229.70, with an initial stop loss above the last pivot high at 231.40. I booked 25% of my position at 228.70 and trailed the stop lower to 230.40. The stock reversed and hit my stop loss.

Interestingly, both stocks subsequently bounced higher.
Awesome trades
I am learning a lot from you
Regarding your second trade with shorting vedl, you have a double top , why don't you short it over there thinking it is range bound and if it breaks the bottom suppport you can continue the trade. This way your stop loss is less
Please let me know what you think
 
#46
one of the best PA traders in our forum........too many so called pro traders should have to follow you......and should give some their feed backs.......yes I follow you regular basis.....and keep your nice work continuously........
Thank you for such nice words. I am a beginner trader, in search of a consistently profitable price action trading and risk management strategy. I hope I can find one so that I can trade full-time.
 
Last edited:
#47
Awesome trades
I am learning a lot from you
Regarding your second trade with shorting vedl, you have a double top , why don't you short it over there thinking it is range bound and if it breaks the bottom suppport you can continue the trade. This way your stop loss is less
Please let me know what you think
Thank you basha. You are right. Shorting that way would have resulted in a better risk-reward.
 
#48
I took 2 trades today.

Trade 1

Sun Pharma plotted a head and shoulders top around 10 am. A few other stocks also simultaneously charted the pattern. I shorted on a break below the neck-line at 572.70, with an initial stop loss above the right shoulder at 574.90. I covered half my position at 569.20 and trailed the stop lower to 573.30. I booked the remaining at 568.20.

Trade 2

Since open, the area between 289.50 and 290.00 was proving to be a support zone for ICICI Bank. I shorted on breach below at 289.30, with an initial stop loss at 291.30. The stock hit a low of 288.50, but post that meandered higher. I found a second opportunity to short on a drop below a narrow consolidation range at 289.30, and trailed the stop lower to above the high of that range at 290.70. I covered 75% of my position at 288.70, and trailed the stop further lower to break-even. The remaining 25% hit the stop.
 

Attachments

bashasm

Well-Known Member
#49
I took 2 trades today.

Trade 1

Sun Pharma plotted a head and shoulders top around 10 am. A few other stocks also simultaneously charted the pattern. I shorted on a break below the neck-line at 572.70, with an initial stop loss above the right shoulder at 574.90. I covered half my position at 569.20 and trailed the stop lower to 573.30. I booked the remaining at 568.20.

Trade 2

Since open, the area between 289.50 and 290.00 was proving to be a support zone for ICICI Bank. I shorted on breach below at 289.30, with an initial stop loss at 291.30. The stock hit a low of 288.50, but post that meandered higher. I found a second opportunity to short on a drop below a narrow consolidation range at 289.30, and trailed the stop lower to above the high of that range at 290.70. I covered 75% of my position at 288.70, and trailed the stop further lower to break-even. The remaining 25% hit the stop.
Excellent trades
 

Similar threads